AbbVie (NYSE:ABBV) reported on Friday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
AbbVie announced earnings per share of $2.42 on revenue of $8.62B. Analysts polled by anticipated EPS of $2.25 on revenue of $8.33B. That with comparison to EPS of $2.14 on revenue of $7.83B in the same period a year before. AbbVie had reported EPS of $2.21 on revenue of $8.7B in the previous quarter. Analysts are expecting EPS of $2.28 and revenue of $8.51B in the upcoming quarter.
AbbVie shares are down 7% from the beginning of the year , still down 16.00% from its 52 week high of $97.86 set on February 12. They are outperforming the S&P 500 which is down 10.24% year to date.
AbbVie shares gained 2.04% in pre-market trade following the report.
AbbVie follows other major Healthcare (NYSE:HTA) sector earnings this month
AbbVie's report follows an earnings beat by J&J on April 14, who reported EPS of $2.3 on revenue of $20.69B, compared to forecasts EPS of $2.02 on revenue of $19.73B.
Pfizer had beat expectations on Tuesday with first quarter EPS of $0.8 on revenue of $12.03B, compared to forecast for EPS of $0.7 on revenue of $11.34B.
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